[kaotic]

It's amazing how much of an impact this has on the world. This has been a pretty insightful thread.

[VolandoVengoVolandoVoy]

http://www.telegraph.co.uk/finance/newsb...ollow.html

"The kingdom is not going to give up market share at this time to anybody and allow - whether it is Russia, Nigeria, or Iran or other places - to sell oil to Saudi customer," said Prince Turki, who has also held Saudi Arabia top overseas diplomatic post as the kingdom's ambassador to the US.
Prince Turki added that Saudi Arabia and other producers would only consider adjusting production if other members of Opec adhered to the group's quotas and stopped making "under the table" deals to sell crude in barbed remarks apparently aimed at rivals Iran.
The remarks by the outspoken Saudi royal will add to the view that the kingdom - the world's largest oil exporter - is now locked in a bitter oil price war with the likes of Russia, Iran and shale oil drillers in North America. Oil has fallen by over 30pc since June to trade at around $70 per barrel with some analysts suggesting the level could fall further to as low as $40 per barrel."

[Tex Pro]

Exclusive: New U.S. oil and gas well November permits tumble nearly 40 percent:

http://www.reuters.com/article/2014/12/0...C120141202

[Brian Shima]

Is cattle rustler correct or do guys in the oil industry need to be prepared?

[Darius]

(12-03-2014 03:23 PM)Brian Shima Wrote:  

Is cattle rustler correct or do guys in the oil industry need to be prepared?

Exploration jobs will definitely take a hit.

Exploration is a huge part of the cost for oil companies. So they will cut back on exploration. Smaller companies that are depending on the price of oil staying high could go under and be bought out.

The oil industry will keep going though, unless we discover a new form of energy to replace it.

[Aliblahba]

(12-03-2014 03:23 PM)Brian Shima Wrote:  

Is cattle rustler correct or do guys in the oil industry need to be prepared?

It's probably best to listen to men here that have already have experience in the oil industry and are staked. I think cattle rustler will do pretty well when he gets more actual experience in the Permian.

[Tex Pro]

Sub-$50 Oil Surfaces in North Dakota Amid Regional Discounts:

http://www.bloomberg.com/news/2014-12-03...854753c306

[Aliblahba]

I've recently spoken with a $1500 a day company and a land lawyer. Both are multi-millionaires and neither are worrying about the recent slowdown. The oilfield is an ebb and flow business.

[ElJefe]

Far more jobs are created by cheap oil than by expensive oil. This is terrific

[Tex Pro]

First U.S. Gas Station Drops Below $2 a Gallon:

http://www.bloomberg.com/news/2014-12-03...allon.html

[Cattle Rustler]

Lol, you don't need experience to know how things will turn out. As long as one can read a chart you're okay.

As Westcoast said once, S&P500 will always go up in the long run.

Ditto for most things.

http://www.nasdaq.com/markets/crude-oil-...eframe=10y

Notice any trends? Down, up, down, up, down, up. The average is up. It's like a GTA cheat code.

For once I'm bitching about gas prices being low, never though that would happen.

[Brian Shima]

Cattle rustler I thought you said you were working in the industry? Either way I hope every one here comes out okay until this passes

[Bones707]

Out here in CA, people are cheering for low energy prices. In TX, people cheer the opposite. Lol,

[Tex Pro]

This is oil's ‘Minsky moment’: Strategist

http://www.cnbc.com/id/102241193?doc=102241193

[Tex Pro]

OIL HITS FIVE-YEAR LOW:

http://www.businessinsider.com.au/closin...-8-2014-12

[VolandoVengoVolandoVoy]

And down it goes...damn this could turn out to have a profound effect on geopolitics for years.
Venezuela in particular, is truly fucked.

"The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over coming months as market forces shake out the weakest producers, Bank of America has warned."

http://www.telegraph.co.uk/finance/oilpr...-dies.html

[Easy E]

US shale industry faces endurance test after Opec rejects cuts

http://www.ft.com/intl/cms/s/2/1fedfe66-...tml#slide0

[Tex Pro]

WTI Crude Declines as U.S. Inventories Grow; Brent Slides:

http://www.bloomberg.com/news/2014-12-10...lides.html

^WTI is now in the ~$61 territory. It will be in the $50 territory soon...and then the shale oil guys will truly be fucked.

[Tex Pro]

(12-09-2014 07:28 PM)VolandoVengoVolandoVoy Wrote:  

And down it goes...damn this could turn out to have a profound effect on geopolitics for years.
Venezuela in particular, is truly fucked.

"The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over coming months as market forces shake out the weakest producers, Bank of America has warned."

http://www.telegraph.co.uk/finance/oilpr...-dies.html

Venezuela will soon have to start selling its gold reserves. No bueno.

Maduro might in the end get kicked out of power, not by the CIA, but by OPEC.

[VolandoVengoVolandoVoy]

(12-10-2014 11:38 AM)The Texas Prophet Wrote:  

(12-09-2014 07:28 PM)VolandoVengoVolandoVoy Wrote:  

And down it goes...damn this could turn out to have a profound effect on geopolitics for years.
Venezuela in particular, is truly fucked.

"The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over coming months as market forces shake out the weakest producers, Bank of America has warned."

http://www.telegraph.co.uk/finance/oilpr...-dies.html

Venezuela will soon have to start selling its gold reserves. No bueno.

Maduro might in the end get kicked out of power, not by the CIA, but by OPEC.

About a year and a half ago, I thought Venezuela would be a great investment opportunity. The whole fortunes are made when there is blood in the streets concept.
My view was that after the death of Chavez, Maduro would try and hold things together, but would be unable to. And that a relatively mild period of civil unrest and rioting by Venezuela standards (200 dead) would follow for 6 months or a year, and then there would be an accommodation between the Chavistas and the opposition to create something workable. And that this something workable, even if it sucked, would be vastly better than the Chavista style of mismanagement. And that adding the Orinoco heavy crude to this and consistently high oil prices, would mean a significant economic boom.
Now? I just see massive chaos, with Maduro becoming more and more like the famous former Mayor of Kabul, President Karzai.

[Tex Pro]

(12-10-2014 11:48 AM)VolandoVengoVolandoVoy Wrote:  

(12-10-2014 11:38 AM)The Texas Prophet Wrote:  

(12-09-2014 07:28 PM)VolandoVengoVolandoVoy Wrote:  

And down it goes...damn this could turn out to have a profound effect on geopolitics for years.
Venezuela in particular, is truly fucked.

"The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over coming months as market forces shake out the weakest producers, Bank of America has warned."

http://www.telegraph.co.uk/finance/oilpr...-dies.html

Venezuela will soon have to start selling its gold reserves. No bueno.

Maduro might in the end get kicked out of power, not by the CIA, but by OPEC.

About a year and a half ago, I thought Venezuela would be a great investment opportunity. The whole fortunes are made when there is blood in the streets concept.
My view was that after the death of Chavez, Maduro would try and hold things together, but would be unable to. And that a relatively mild period of civil unrest and rioting by Venezuela standards (200 dead) would follow for 6 months or a year, and then there would be an accommodation between the Chavistas and the opposition to create something workable. And that this something workable, even if it sucked, would be vastly better than the Chavista style of mismanagement. And that adding the Orinoco heavy crude to this and consistently high oil prices, would mean a significant economic boom.
Now? I just see massive chaos, with Maduro becoming more and more like the famous former Mayor of Kabul, President Karzai.

Yeah, Venezuela is heading for implosion. Every one is going to suffer, from the Chavistas to the opposition.

[Tex Pro]

Nigeria Won’t Print Money as Oil Plunges, Finance Minister Says:

http://www.bloomberg.com/news/2014-12-08...eeb39eddb0

^Another country to keep an eye on is Nigeria.

70% of its government revenues come from oil and they have massive terrorist threats in the north of the country (Boko Haram).

[VolandoVengoVolandoVoy]

I bet anyone selling security services, bullet proof vehicles or vests, etc, will continue to do quite well in both Venezuela and Nigeria.
Also, anyone providing relocation services(consulting, real estate, financial, etc) for Venezuelans is looking at steady and continued growth.
Miami real estate in the 200-400K range is probably a sweet spot.

[Glaucon]

there is a support at 57. If it goes under we go down to 35

[Aliblahba]

Venezuela, Nigeria, ect go to shit due to the plummeting oil prices. Halliburton goes in and redevelopes the oilfields (military backed) when price of oil is convienently $120 bbl. Sounds like biz as usual. Don't hate the biggest lion for taking his share.